AI English summary of an SEC filing — figures as filed
Blackstone BXThe company said revenue for the 3-month period ended September 30, 2024 was $3.7 billion, up $1.1 billion from $2.5 billion a year earlier. The company cited an increase in Unrealized Investment Income (Loss) of $1.1 billion as the main factor.
Key points
AI summaryThe company said revenue for the 3-month period ended September 30, 2024 was $3.7 billion, up $1.1 billion from $2.5 billion a year earlier. The company cited an increase in Unrealized Investment Income (Loss) of $1.1 billion as the main factor.
The company cited an increase of $834.6 million in its Private Equity segment and an increase of $310.9 million in its Real Estate segment as the drivers of the rise in Unrealized Investment Income (Loss) in Q3. It said Corporate Private Equity and GP Stakes funds appreciated 6.2% and 12.6%, respectively.
Blackstone said its expenses for Q3 were $1.9 billion, up $521.2 million from a year earlier. Of the $494.2 million increase in Total Compensation and Benefits, $454.4 million was an increase in Performance Allocations Compensation. The company explained that part of compensation is based on Investment Income (Loss), so compensation rises with it.
The company said that as of September 30, 2024, it held $2.4 billion in Cash and Cash Equivalents, that its bond issuance borrowings were $10.7 billion, and that it had no borrowings under its $4.325 billion committed revolving credit facility.
Key figures
Quarter ended September 30, 2024
- Revenue
- $3.7B
- Net income
- $781M
- EPS
- $1.02
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q3 2024 Revenues $3.7 billion
The company said revenue for the 3-month period ended September 30, 2024 was $3.7 billion, up $1.1 billion from $2.5 billion a year earlier. The company cited an increase in Unrealized Investment Income (Loss) of $1.1 billion as the main factor.
Source · Based on the MD&A text of the filing
Private Equity Unrealized Investment Income Rises $834.6 million
The company cited an increase of $834.6 million in its Private Equity segment and an increase of $310.9 million in its Real Estate segment as the drivers of the rise in Unrealized Investment Income (Loss) in Q3. It said Corporate Private Equity and GP Stakes funds appreciated 6.2% and 12.6%, respectively.
Source · Based on the MD&A text of the filing
Q3 Expenses $1.9 billion, Performance Allocations Compensation Rises $454.4 million
Blackstone said its expenses for Q3 were $1.9 billion, up $521.2 million from a year earlier. Of the $494.2 million increase in Total Compensation and Benefits, $454.4 million was an increase in Performance Allocations Compensation. The company explained that part of compensation is based on Investment Income (Loss), so compensation rises with it.
Source · Based on the MD&A text of the filing
September 30, 2024 Cash $2.4 billion, Bond Borrowings $10.7 billion
The company said that as of September 30, 2024, it held $2.4 billion in Cash and Cash Equivalents, that its bond issuance borrowings were $10.7 billion, and that it had no borrowings under its $4.325 billion committed revolving credit facility.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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